‘South Africa keen on bolstering economic relations with Kuwait’

KUWAIT: South Africa’s Ambassador to Kuwait M P Bona yesterday affirmed his country’s keenness on bolstering economic and commercial relations with Kuwait. In a statement during a joint meeting between Kuwaiti and South African economic delegations, Bona said that bilateral political relations have reached satisfactory levels, underscoring the need of strengthening economic relations between the two countries.

Bona added that a South African economic delegation’s visit to Kuwait highlights his country’s prioritization of relations with Kuwait. Manager of International Operations at the South African Ministry of Investment and Commerce Ricardo Andrews said that his country possesses the economic expertise needed to enter various sectors of the Kuwaiti market.

Describing South African markets as ‘promising,’ Andrews underscored the fact that South Africa accounts for about 50 percent of Africa’s purchasing power and boasts one of the most robust stock exchanges in the continent. Andrews also announced his country’s participation in Kuwait’s International Commercial Exhibition to be held in February.

Member of the Kuwait Chamber of Commerce and Industry (KCCI) Tareq Al-Mutawa stressed the need for further economic cooperation between the two countries, saying that Kuwait is going through an economic boom which would facilitate South African entry into Kuwaiti markets. —KUNA